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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    8706 Pitkin Ave Jamaica, NY 11417-1908

    • Apartment buildings
    • 3,960 SF
    • 0.09 lot acres
    OFF-MARKET
    Last Sale
    Jun 08, 2022
    $307,692
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2387923
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 8706 Pitkin Ave

    Year built
    1977
    Lot size
    0.09 lot acres
    Property size
    3,960 SF
    Zone code
    R4
    Property type
    Apartment buildings
    APN
    11367-0001
    APU
    113670001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $255,000
      ML approach
      $275,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $326,000
      Market price range: $257k - $402k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Jamaica
    County
    Queens
    State
    New York
    Longitude
    -73.8492
    Latitude
    40.6742
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $32,154
    $6,750
    $253,350
    $260,100
    -
    $15,000
    $563,000
    $578,000

    Comparable in this City

    • Value Estimation
      $690,000
      20,646 SF

      9420 Albert Rd

      APARTMENT HOUSE (5+ UNITS) • 20,646 SF
      9420 Albert Rd, Jamaica, NY 11417-2901
      View Details
    • Value Estimation
      $340,000
      3,360 SF

      10919 Centreville St

      APARTMENT HOUSE (5+ UNITS) • 3,360 SF
      10919 Centreville St, Jamaica, NY 11417-2604
      View Details
    • Value Estimation
      $340,000
      3,360 SF

      10921 Centreville St

      APARTMENT HOUSE (5+ UNITS) • 3,360 SF
      10921 Centreville St, Jamaica, NY 11417-2605
      View Details
    • Value Estimation
      $360,000
      3,960 SF

      8717 Dumont Ave

      APARTMENT HOUSE (5+ UNITS) • 3,960 SF
      8717 Dumont Ave, Jamaica, NY 11417-2404
      View Details
    • Value Estimation
      $365,000
      3,968 SF

      8624 Dumont Ave

      APARTMENT HOUSE (5+ UNITS) • 3,968 SF
      8624 Dumont Ave, Jamaica, NY 11417-1955
      View Details
    • Value Estimation
      $340,000
      3,612 SF

      13325 87th St

      APARTMENT HOUSE (5+ UNITS) • 3,612 SF
      13325 87th St, Jamaica, NY 11417-1950
      View Details

    Similar Nearby for Sale

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      Mixed-Use Property with Retail and Apartments

      Mixed-use property featuring retail space and residential units.
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      Ozone Park Multifamily Investment Property

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      Mixed-Use Property With Liquor Store

      Mixed-use property featuring apartments and a liquor store business.
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      Ozone Park Income-Generating Property

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      Ozone Park Triplex For Sale

      Spacious 3-family brick home in Ozone Park, NY.
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      Queens Multifamily Property for Sale

      Multifamily property available in Queens, NY.
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    Similar Nearby for Lease

    • $132 SF/Yr
      11 SF

      Cross Bay Blvd Retail Space

      7,000 SF Retail Space - Queens, NY
      135-26 Cross Bay Blvd, Queens, NY 11417
      View Details
    • Contact for pricing
      2,500 SF

      Howard Beach Office Space Available

      Office space with dedicated parking and easy highway access.
      159-21 Crossbay Blvd, Howard Beach, NY 11417
      View Details
    • New
      $2,000 /Mo
      2,156 SF

      Retail Space in Ozone Park

      Retail space available in Ozone Park, near transportation.
      8617 Sutter Ave, Ozone Park, NY 11417
      View Details
    • $39 SF/Yr
      1,668 SF

      Retail Space with Free Parking

      Retail space available for rent with free parking and signage.
      157 Crossbay Blvd, Howard Beach, NY 11417
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    • $2,400 /Mo

      Prime Location Office Space

      Second floor office space with large open window signage.
      13507 Crossbay Blvd, Jamaica, NY 11417
      View Details
    • $2,000 /Mo
      2,361 SF

      Ozone Park Commercial Space Available

      Commercial space on Crossbay Blvd, ideal for retail or office.
      10510 Crossbay Blvd, Ozone Park, NY 11417
      View Details
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    8706 Pitkin Ave
    Jamaica, NY 11417-1908
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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